Axxcess Wealth Management LLC Purchases 2,753 Shares of General Motors (NYSE:GM)

Axxcess Wealth Management LLC boosted its holdings in shares of General Motors (NYSE:GM) (TSE:GMM.U) by 7.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,197 shares of the auto manufacturer’s stock after buying an additional 2,753 shares during the period. Axxcess Wealth Management LLC’s holdings in General Motors were worth $1,372,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. SouthState Corp boosted its stake in shares of General Motors by 173.8% in the 3rd quarter. SouthState Corp now owns 764 shares of the auto manufacturer’s stock valued at $25,000 after purchasing an additional 485 shares in the last quarter. Highlander Capital Management LLC acquired a new position in General Motors in the fourth quarter worth $27,000. BluePath Capital Management LLC bought a new stake in shares of General Motors during the third quarter worth $33,000. Bfsg LLC acquired a new stake in shares of General Motors in the fourth quarter valued at $35,000. Finally, Tennessee Valley Asset Management Partners bought a new position in shares of General Motors in the fourth quarter valued at about $36,000. Institutional investors own 92.67% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Morgan Stanley increased their price objective on shares of General Motors from $43.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, April 10th. Sanford C. Bernstein began coverage on General Motors in a research note on Thursday, April 25th. They set an “outperform” rating and a $55.00 price target on the stock. Piper Sandler lifted their price objective on General Motors from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 24th. Mizuho upped their target price on shares of General Motors from $48.00 to $52.00 and gave the company a “buy” rating in a research report on Wednesday, April 24th. Finally, Royal Bank of Canada raised their target price on shares of General Motors from $54.00 to $56.00 and gave the company an “overweight” rating in a research note on Tuesday, April 23rd. One analyst has rated the stock with a sell rating, three have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $54.65.

General Motors Trading Up 0.6 %

NYSE GM opened at $45.11 on Monday. General Motors has a one year low of $26.30 and a one year high of $46.17. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.16 and a quick ratio of 0.97. The firm has a market cap of $51.47 billion, a P/E ratio of 5.48, a P/E/G ratio of 0.53 and a beta of 1.49. The stock’s 50-day moving average is $42.84 and its 200-day moving average is $36.89.

General Motors (NYSE:GM) (TSE:GMM.U) last released its quarterly earnings results on Tuesday, April 23rd. The auto manufacturer reported $2.62 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.60. The company had revenue of $43.01 billion during the quarter, compared to analysts’ expectations of $41.09 billion. General Motors had a net margin of 6.13% and a return on equity of 14.40%. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.21 earnings per share. Sell-side analysts anticipate that General Motors will post 9.44 earnings per share for the current fiscal year.

General Motors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Friday, June 7th will be given a $0.12 dividend. This represents a $0.48 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date is Friday, June 7th. General Motors’s dividend payout ratio is presently 5.87%.

Insider Buying and Selling

In related news, EVP Julian G. Blissett sold 13,826 shares of General Motors stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $38.24, for a total value of $528,706.24. Following the sale, the executive vice president now owns 87,567 shares of the company’s stock, valued at $3,348,562.08. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, EVP Julian G. Blissett sold 13,826 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were sold at an average price of $38.24, for a total transaction of $528,706.24. Following the transaction, the executive vice president now directly owns 87,567 shares in the company, valued at $3,348,562.08. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Christopher Hatto sold 15,510 shares of the stock in a transaction on Monday, February 26th. The shares were sold at an average price of $40.02, for a total transaction of $620,710.20. Following the completion of the sale, the chief accounting officer now owns 21,507 shares of the company’s stock, valued at approximately $860,710.14. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 86,248 shares of company stock worth $3,614,078. 0.72% of the stock is owned by insiders.

General Motors Profile

General Motors Company designs, builds, and sells trucks, crossovers, cars, and automobile parts; and provide software-enabled services and subscriptions worldwide. The company operates through GM North America, GM International, Cruise, and GM Financial segments. It markets its vehicles primarily under the Buick, Cadillac, Chevrolet, GMC, Baojun, and Wuling brand names.